Published on 2/15/2023 in the Prospect News Structured Products Daily.
New Issue: GS Finance sells $5.67 million autocallable index-linked notes on S&P, Russell
By William Gullotti
Buffalo, N.Y., Feb. 15 – GS Finance Corp. priced $5.67 million of 0% autocallable index-linked notes due Feb. 7, 2025 tied to the S&P 500 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
If each index closes at or above its initial level on Jan. 31, 2024, the notes will be called at par plus a 15% call premium.
If the notes are not called and each index finishes at or above its initial level, the payout will be par plus 200% of the return of the laggard index.
If the worst performer declines but finishes at or above 85% of its initial level, the payout will be par.
Otherwise, investors will lose 1% for every 1% decline of the worst performer beyond 15%.
The notes are guaranteed by Goldman Sachs Group, Inc.
Goldman Sachs & Co. LLC is the agent.
| Issuer: | GS Finance Corp.
|
| Guarantor: | Goldman Sachs Group, Inc.
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| Issue: | Autocallable index-linked notes
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| Underlying indexes: | S&P 500 index, Russell 2000 index
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| Amount: | $5,665,000
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| Maturity: | Feb. 7, 2025
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| Coupon: | 0%
|
| Price: | Par
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| Payout at maturity: | If the notes are not called and each index finishes at or above its initial level, par plus 200% of the return of the laggard index; if worst performer finishes above 85% of initial level, par; otherwise, investors will lose 1% for every 1% decline of the worst performer beyond 15%
|
| Call: | If each index closes at or above initial level on Jan. 31, 2024, notes will be called at par plus a 15% call premium
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| Initial index levels: | 4,076.6 for S&P, 1,931.945 for Russell
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| Trigger buffer levels: | 85% of initial levels
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| Pricing date: | Jan. 31
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| Settlement date: | Feb. 3
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| Agent: | Goldman Sachs & Co. LLC
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| Fees: | 0.8%
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| Cusip: | 40057PCH3
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